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Stock Market & Financial Investment News

News Breaks
November 27, 2012
10:47 EDTMMRMcMoRan Exploration falls for a second day, levels to watch
The shares are down over 18% at time of writing, last at $7.92. This is off earlier lows at $7.25. Resistance is currently at the high of the session, last at $8.29. The stock fell yesterday after the company provided an update on Gulf of Mexico exploration results, which included well difficulties. This morning firms were negative on the stock for the most part with JPMorgan commenting that the shares had "zero equity value" and with RBC Capital downgrading the name to Sector Perform with a $10 price target. Support is at the low of the session at $7.25.
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